Bitcoin

Elon Musk’s AI chatbot Grok recently made exaggerated claims about its creator, calling him stronger than Mike Tyson and more attractive than Brad Pitt. The incident highlights the risks of centralized AI and the need for decentralization, while Musk has also shown a shift in his stance on Bitcoin.

While Bitcoin and other major cryptocurrencies tumbled, a free grid trading bot on OKX generated a 106% profit on 1INCH for Dutch users, highlighting the potential of automated strategies in volatile markets.

Bitcoin’s price shows a modest recovery, up several percent from its 24-hour low, but analysts caution that the bottom may not yet be in. The RSI indicates oversold conditions, and the market awaits a decisive move.

The crypto market turned optimistic after the probability of a December Fed rate cut nearly doubled, sparking hopes that bitcoin’s recent decline may have bottomed out.

This column explores how the U.S. weaponization of the dollar is prompting nations to seek alternatives. With trust in the greenback eroding, countries are looking for a neutral reserve asset, positioning Bitcoin as a potential contender for a new global reserve currency.

Dutch crypto analyst Michaël van de Poppe calls the current market the worst since 2018, citing ’total capitulation.’ He attributes the crash to the unwinding of Japan’s carry trade and reveals a painful 75% loss in his own altcoin portfolio.

Ethereum founder Vitalik Buterin warns that quantum computers could be powerful enough to break the cryptography securing Bitcoin, Ethereum, and other cryptocurrencies as early as 2028, posing an urgent threat to blockchain security.

The U.S. government is investigating Chinese mining hardware giant Bitmain over concerns its equipment could be used by China to remotely destabilize the American power grid, posing a significant national security risk.

U.S. Treasury Secretary Scott Bessent made an unannounced visit to the new Pubkey bitcoin bar in Washington D.C., a move seen by the crypto community as a strong signal of long-term support despite market uncertainty and a lack of clear policy on a strategic Bitcoin reserve.

Bridgewater Associates founder Ray Dalio stated in a CNBC interview that Bitcoin will not become a new world currency, citing issues with transparency and potential quantum computing threats. He also warned that the U.S. economy is in a bubble that is 80% complete.